A "staggering" number of businesses have suffered from poor cybersecurity, according to the CEO of the world's oldest insurance market.
Recent Lloyd's of London data revealed that 92 percent of businesses asked had experienced a breach, Inga Beale, CEO of Lloyd's, told CNBC's Squawk Box.
"Apart from businesses in the U.S., there is not a lot of take up of cyber insurance," Beale detailed, despite the problem "affecting almost every single business because of technology these days."
Beale explained that successfully dealing with the threat was "not about building walls to prevent an attack," but also "what you do to mitigate any disaster." Having contingency measures in place are essential, Beale argued, as businesses can "limit an attack, but can't necessarily eliminate the chance of an attack."